Antero Midstream Corporation (NYSE:AM) Shares Will Pay Quarterly Dividend of $0.23

Antero Midstream Corporation (NYSE:AM) announced a quarterly dividend on Wednesday, October 14th. Investors of record on Wednesday, October 28th will be given a dividend of $0.2250 per share by the pipeline company on Wednesday, November 11th. This represents a $0.90 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 28th.

Antero Midstream has decreased its dividend payment by an average of 0.1% annually over the last three years. Antero Midstream has a payout ratio of 81.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Antero Midstream to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 69.8%.

Antero Midstream Stock Performance

Shares of AM stock opened at $20.73 on Thursday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 24.67 and a beta of 0.72. Antero Midstream has a one year low of $16.96 and a one year high of $23.83. The company has a 50 day moving average price of $21.69 and a 200 day moving average price of $21.86.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. Antero Midstream’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. Sell-side analysts anticipate that Antero Midstream will post 1.09 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on AM shares. Wells Fargo & Company lifted their target price on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Capital One Financial upgraded Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 price target for the company in a research note on Tuesday, September 22nd. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. UBS Group cut their price objective on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, September 21st. Finally, Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.20.

Antero Midstream Company Profile

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production in the Appalachian Basin. The company primarily serves Antero Resources Corporation, providing the gathering and processing services needed to move production from well sites into downstream markets.

Antero Midstream’s operations include natural gas gathering, compression and processing, as well as water handling and related services.